Page 3 - Digital Transactions

Our digital transactions have gone as high as 67% now: SBI Chairman

SBI has seen an increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent now, Chairman said

Paytm starts services for business to accept card payments on Android phone

Paytm has partnered with financial services institutions, including Visa and MasterCard, for facilitating card payments for Smart PoS

UBS fund pursues $400 million stake in SoftBank-backed Paytm: Report

UBS aims to finalize an agreement as soon as this month

'Pandemic paradox': Cash was king in 2020 as digital transactions increased

Experts cite hoarding as reason for 22% spike in currency in circulation

Insurers are going digital, but their systems are far from robust

Many companies are using the building blocks in which they have invested to expand their digital offerings instead of taking the bold gambit of installing a new operating system

Contactless conundrum: More blind spots on the nature of proximity payments

The Covid-19 pandemic has given proximity payments a shot in the arm, but clarity on their nature is still elusive

Over 16.34 bn digital transactions registered in April-Aug: Sanjay Dhotre

Digital payments have increased in the country during the last three years from 2,071 crore digital transactions in FY2017-18 to 3,134 crore in FY2018-19, and further to 4,572 crore in FY2019-20

PhonePe to expand business, digitise 25 mn small merchants, create 10K jobs

The company plans to reach 5,500 talukas via its merchant acquisition team that will lead to over 10,000 jobs being created in semi-urban and rural areas

GeM has potential to handle transactions up to $100 bn per annum: Official

"The present version of GeM will be upgraded after enhancing the system and a unified procurement system will be put in place," Kumar said

Digital transactions could reach Rs 15 trillion a day by 2025: RBI

Daily transactions average 100 million now for a volume of Rs 5 trillion; just before Covid, they daily were averaging 125 million a day, or more than five times the volume in June 2016

How to make marketplace lending safe

RBI needs to handle fintechs with care, so that innovation, necessary for inclusion and cost-effective, fast transactions, is not stymied

Best of BS Opinion: Digital payments and the pandemic, AGR dues, and more

Here's a selection of Business Standard opinion pieces for the day

Banker as Covid warrior

After demonetisation, Covid-19 is giving a big push to digital banking

Lockdown impact: Digital transactions nosedive in April, shows NPCI data

The value of IMPS (Immediate Payment Service) transactions in April fell to about Rs 1.21 trillion in April, from about Rs 2.02 trillion in March

Allow digital onboarding of customers for NBFCs, others: Industry body

The non banking entities are capable of doing minimum know your customer (KYC) for merchant transactions successfully without face- to- face physical interaction with the customer only

Paytm looks to focus on merchant base to drive next phase of growth

An area which is a big focus for serving merchants is IoT-enabled devices such as Sound Box

Bengaluru, Delhi, Hyderabad lead e-merchant payments in 2019: Razorpay

Owing to the growth of UPI, share of wallets continue to decline despite the increase in the number of transactions, the report said.

MDR waiver: RBI may pay Rs 1,800 cr to banks to fund free transactions

Finance Minister Nirmala Sitharaman last month said no Merchant Discount Rate (MDR) charges will be applicable on transactions through homegrown RuPay and UPI platforms

Mastercard, Federal Bank join hands to make digital transactions safer

Mastercard has entered into a partnership with Federal Bank to offer identity check to the bank's cardholders, it said in an announcement

No issue with India's data localisation, but will protect US firms: Mnuchin

US Treasury Secretary Steven Mnuchin also insisted that America has no problem if countries want to have local data for regulatory purposes as long as they do not eliminate it outside the country